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The integration of Revest Finance with Chainlink Price Feeds was announced by Revest Finance. Its team published a blog post to make the announcement.
Revest Finance is looking to leverage the variety of features that Chainlink provides. It additionally considered the infrastructure of Chainlink and the steps that it takes to prevent the premature unlocking and withdrawal of FNFTs.
Integration of Chainlink Price Feeds has been performed on Ethereum mainnet after reviewing its data quality and network decentralization features.
Background
Chainlink Price Feeds powers hybrid smart contracts on every blockchain. It achieves this objective by engaging in building, accessing, and selling oracle services. Chainlink also engages in selling smart contracts to its clients.
Global enterprises and data providers rely on Chainlink alike. It provides them with a common gateway to blockchain networks. Industries, irrespective of their activities, deploy Chainlink to secure their billions of dollars.
A list of these industries extends to literally every type of organization. This includes insurance, DeFi, and gaming, to mention a few.
NFTs are trending, and they are expected to trend till the time they fully gear up with a dedicated financial tool. The statement comes to light as Revest Finance is currently functioning to pioneer the use of non-fungible tokens as financial tools in the market.
Revest Finance encourages its users to deposit any ERC20 into their FNFTs. They can also customize the conditions to unlock their deposits into the network.
Since its inception, it has worked tirelessly to fill the existing gaps in the Cryptocurrency market. These mainly deal with implications for derivative and borrowing or lending platforms.
The Integration
By announcing the integration with Chainlink Price Feeds, Revest Finance has successfully assured its users that their value-locked FNFTs will no longer be subject to the threats of being unlocked in a premature manner.
Revest Finance now has access to high-quality, tamper-proof price feeds thanks to the integration of Chainlink Price Feeds. It is scheduled to be concluded in a phased manner. The initial phase will include integration of ETH/USD, LINK/ETH, USDC/ETH, DAI/ETH, and USDC/USD.
Revest Finance was careful in selecting Chainlink for integration with Ethereum mainnet. It considered the activities of Chainlink to maintain security and availability during unexpected events.
Unexpected events normally include data manipulation, data exchange, and flash crashes.
Rob Montgomery, the Chief Executive Officer of Revest Finance, issued an official statement expressing his excitement for the integration. He further assured the users that they could now rest as their deposits were protected against premature unlocking or withdrawal.
What Revest Finance is planning to leverage are the four exclusive features of Chainlink. These include high-quality data, secure node operators, decentralized networks, and transparency.
High-quality data deals with compiling the data from several aggregators to generate a precise global market price. The secure node operators have a record of reliability even when the gas prices are skyrocketing. It offers protection against downtime through a decentralized network. The on-chain monitoring tool ensures that it offers transparency at all times.
The decision to execute the process of integration was taken at an earlier stage. Since it serves a lot of benefits, one can expect it to conclude at the earliest. You can visit here to find out more about the potential of Chainlink’s price.